Creating the most favorable conditions for clients

Providing a total area of over 2 million sq m to the Vietnamese market in the last seven years, Housing and Urban Development and Investment Corporation (HUD) is consistently named among the top real estate enterprises in Vietnam.

A State-owned enterprise directly under the Ministry of Construction, HUD holds the lead in market share and has been recognized by ministries and the private sector for its development of the Linh Dam lakeside housing area and Dinh Cong new urban area in Hanoi.

"We continue to improve and expand our investment in construction of new urban areas and housing in many other provinces throughout the nation," General Director Nguyen Dang Nam said.

Currently the corporation has implemented approximately 20 projects in new urban area development in 10 provinces and cities throughout the country, with a total area of nearly 20,000,000 sq m.

Joining the WTO

General Director Nam explained the opportunities and challenges of joining the World Trade Organization (WTO).

"Vietnam's attraction as a newly emerging market and our accession into the WTO has drawn foreign investors to our country, creating a prime opportunity for further development," he said.

"At the same time, laws have become more open and fair for foreign investors and companies, which creates fierce competition for Vietnam's real estate enterprises.

"Often times, foreign companies have a tremendous potential to mobilize capital and years of industry experience. Nevertheless they have chosen to work together with us because of our domestic expertise and long-standing reputation."

Building a strong brand

Since its establishment, HUD has attached special importance to building up, developing, and maintaining its brand name based on the foundation of product quality - that is, by providing a high standard of living in all urban area projects.

"Whether it is apartment buildings, schools, supermarkets, parks, or leisure centers, people are attracted to our urban areas by the elements of quality and design relevant to their daily living practices," Nam said.

Competition & partnerships

Confronted with competitive pressure from foreign investors, HUD also realizes the urgent need for quality service after purchase.

"We have assessed and analyzed stages in value chains to focus on effectively promoting quality and value in line with the planned design; and flexibility in sales to create the most favorable conditions for clients," Nam said.

Moreover, HUD has also taken initiatives to strengthen cooperation with foreign partners by consulting with them regarding design, investments, and knowledge-transfer to take advantage of capacity, experience in capital, and business management.

"Our thorough knowledge of the local market through many years of experience gives us a competitive advantage over our competition and is of special significance to HUD," Nam said.

(Shanghai Start 09/03/2007 page3)